Supporting those who serve

Veterans, reservists and military spouses have unique skills and experiences that help make our organization stronger. We’re committed to providing helpful resources to service members, veterans and their families.

Through career opportunities, financial education and nonprofit partnerships, we support service members and their families as they transition to civilian life.

Service member smiling and wearing Bank of America lanyard

Benefits

At Bank of America, we have a number of programs and resources in place to help our veterans, reservists and military spouses transition to our company culture and grow their career with us.

 

We know many of our military employees may continue to serve in the National Guard or Reserve. We are proud of their continued service to our country and provide all military employees, full-time or part-time, with paid time-off for their Military Reserve or National Guard annual training and continued coverage of their health and insurance benefits.

 

We’re also proud to offer military spouses the opportunity, stability and flexibility they need to support their service member and families. Employment can be difficult for military spouses who manage many challenges back home while their wife, husband or partner is deployed. Abby Hollingsworth knows these challenges firsthand, as she’s balanced family obligations with her career at Bank of America. Abby and her family have moved six times in the past seven years with her active duty husband. With every move, our work flexibility programs have assisted Abby so she can continue to focus on our clients. Our Job Transition Assistance Program is another bank initiative that gives every military spouse at our company access to a streamlined, personalized program should they need help connecting with a position in a new state or city. In addition, our Military Support & Assistance Group (MSAG) employee network includes a military spouse group which holds a quarterly forum for sharing of information, resources and support for spouses working at the bank.

 

Veterans and military spouses can face tough challenges during extended deployments, Permanent Change of Station moves and as they transition into civilian life. Our Life Events Services (LES) team helps these employees navigate significant life events, including helping them connect to community resources, confidential counseling, childcare and other referral programs and services.

Recruiting, development and engagement

At Bank of America, we are proud to offer employment opportunities to talented veterans, reservists and military spouses. Easing the transition into the civilian world is our way of giving back to the people and families who have sacrificed so much to protect our way of life. We employ thousands of veterans and military spouses. Building on our longstanding commitment, since 2014 we have hired more than 9,000 service members toward hitting our goal of hiring 10,000 veterans, guard and reservists. 

Our dedicated Military and Veteran Recruiting Team partners with numerous military nonprofits, veterans’ groups and local organizations to identify and recruit veterans, and has a regular presence at military job fairs coast to coast.

The transition process doesn’t end once hired. We support our military employees with tailored training and mentorship programs. These resources are in place specifically to ensure our colleagues transitioning to civilian life are given the tools they need to be successful.

Success also comes in the form of employee connection. Our Military Support & Assistance Group (MSAG) is an employee network that creates opportunities for advancement and leadership development through networking, mentoring, volunteer events and information forums. MSAG has 40 chapters and more than 10,000 members around the country with active membership.

And our Military Transition and Career website is designed for veterans and their spouses as they plan for and look to make the transition to civilian life. The site includes online learning created in partnership with Degreed.com, and a Military Transition Action timeline to help veterans track priorities and objectives starting 18 months before they plan to separate from the military, whether it’s for school, entrepreneurship or employment.

Partnerships

For nearly 100 years, Bank of America has served the military community. With roughly 1.5 million service members expected to transition out of the military over the next three to five years, we are committed to doing even more to help make that transition successful.

We’re proud to partner with national and local military and veteran support organizations across the U.S. to help ensure our veterans and their families have the support they need to thrive. We do this through financial support, and through our employee volunteers, who contributed more than 50,000 volunteer hours at military events last year.

Here’s a snapshot of some of the great work our partners are doing:

  • United Service Organization (USO): For nearly 75 years, the USO has strengthened America’s military service by keeping service members connected to family, home and country. The organization operates centers at military installations across the country and throughout the world, and stays by service members’ side as they transition back home. We are national partners in the great work they do.
  • Student Veterans of America (SVA): SVA connects veterans in colleges and universities, offering the resources, support and advocacy needed to succeed in higher education and in their careers. We are honored to support SVA chapters across the U.S.
  • Better Money Habits®: Developed in partnership with Khan Academy, BetterMoneyHabits.com combines their expertise in online education with our financial know-how to make complex financial topics easy to understand. With direct input from veterans, we’ve developed a customized suite of online content, interactive tools and educational materials to help returning veterans understand more about their money and make better financial decisions.
  • Veteran Entrepreneur Lending Program: In 2018, we launched a $20 million lending program for U.S. military veteran entrepreneurs. Administered through participating community development financial institutions, the Veteran Entrepreneur Lending Program will connect U.S. military veteran entrepreneurs with affordable capital to launch and grow their businesses.